EL 4416

EL 4416 is a brown coal exploration licence (EL) covering approximately 3,700 square kilometres of Victoria. In a February 2010 presentation, Ignite Energy Resources stated that it estimates there are approximately 16 billion tonnes of "JORC standard" lignite in the area. EL4416, the company boasted, is a "world scale energy and fertiliser resource."

The company states that the total lignite resource within the licence area is 2-300 billion tonnes. However, JORC -- the acronym for the Joint Ore Reserves Committee -- set out standards for the estimation of mineral resources and ore reserves. The JORC standard has been adopted by the Australian and the New Zealand Stock Exchanges.

The Department of Primary Industries lists Ignite Energy Resources as the title holder of EL 4416. The licence was previously held by Victoria Coal Resources.

History
A report by states that Ignite Energy REsources was formed in November 2008 "as a result of a merger between Ignite Energy Pty Ltd, which owns the intellectual property rights to the Cat-HTR technology (patents outstanding) and Victoria Coal Resources Pty Ltd (“VCR”), a coal and coal bed methane developer. VCR acquired Ignite Energy Pty Ltd for a consideration amounting to A$65 million consisting of a mix of cash and scrip. Upon completion of the merger, the merged group adopted the name Ignite Energy Resources Pty Ltd (i.e. Ignite). Ignite’s key focus is to advance and commercialise the Cat-HTR technology as well as develop the coal bed contained within EL4416."

A September 2007 submission by Victoria Coal Resources stated that "the Company’s principal asset is the brown coal rights of EL 4416. The licence area is located within the Gippsland Basin region of South East Victoria and covers approximately 3,700 square kilometers.  The in-situ brown coal quantities are estimated to be in excess of 200 billion tonnes with approximately 14 billion tonnes within the measured and indicated resource categories."

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